Getting real estate back under control is a challenge not for the faint of heart.Getting real estate back under control is a challenge not for the faint of heart, but the potential financial benefits, not to mention the impact on employee productivity, morale and brand perception, are substantial. Following are three major steps you can take to recapture control of your assets and relieve the real estate hangover.Strategic re-alignment—commit to a comprehensive real estate management approach. To be successful, organizations need to confront important questions about workplace and facilities strategy. This starts with a comprehensive review of the demand for space. “Do we need the space at all?” is the first question for the organization to confront.This discussion should be coupled with defining or refining the corporate position on work style, planned workforce requirements, the role of mobility, and ultimately workplace density and configuration. Depending on the outcome of this strategic exercise, challenging traditional paradigms of demand for space can result in a new footprint that delivers enhanced collaboration and improved workspace environments, while also resulting in as much as a 40 percent reduction from typical space footprints.To challenge the demand, however, organizations need to build a central database that captures all leases and facility services contracts in order to bring real estate-related spend within the scope of professional management. This enables central visibility of the portfolio in scope and its cost control in conjunction with the business demand for use of space.Once overall space demand is clearly defined, Tuoyo Omatsuli said ; it is imperative to mandate and incentivize corporate real estate teams to partner hand-in-hand with procurement and operations. By encouraging CREs to take a more strategic, long-term view of portfolio planning and utilization, procurement teams can create better policies and strategic plans to support the sourcing of property service and management supply chains to leverage economies of scale between CRE teams and suppliers.Force multiplier: De-fragging the real estate portfolio. Driving savings on facilities services contracts can yield savings of 10 to 20 percent on existing spend. But the real force multiplier is in reducing the total footprint and completely eliminating recurring cost streams. Recall that for every $100 million in real estate expenditures ongoing operating costs amount to $40 million annually. Not only do organizations net upfront cash benefits from disposing of assets, but they eliminate recurring cost streams as well. Consolidating multiple locations in one city or region or deploying policies to enable flexible working reduces square footage while also resulting in workforce benefits like increased morale, enhanced collaboration, better work-life balance and improved productivity. See More

Engr. Tuoyo Omatsuli NDDC Opens Ultra-Modern Foot Bridge In Port-HarcourtThe Niger Delta Development Commission, NDDC, has opened an ultra-modern foot-bridge along the busy Aba Road in Port Harcourt. The bridge, which has become a new landmark in the capital city, is a tube linking the corporate headquarters of the commission to its equally modern car park for staff and visitors.While declaring the foot-bridge open for use, the Managing Director and Chief Executive Officer of the commission, Bassey Dan-Abia, noted that the safety of staff and visitors to the NDDC headquarters was a paramount consideration in putting up the structure.In his words, “It is part of our efforts to provide a safe working environment for our staff and make sure that none of them is exposed to unnecessary risk.”He described the foot-bridge as very magnificent and stressed that it was also technically and aesthetically very good.The NDDC MD, who was flanked by top management staff of the commission, promised to provide 24-hour security for the foot bridge to ensure that it is safe at all times. He announced that the bridge would be restricted to NDDC staff until the commission finishes test-running the facility.The NDDC Executive Director Projects, Engr. Tuoyo Omatsuli, also gave assurances that the foot-bridge would be very well maintained, noting that all the facilities such as the lighting and air conditioning would be kept at tip-top shape.He described the foot-bridge as the first of its kind in the South-South region. “The design is unique and on entering the bridge, you will think that you are stepping into a rail station in Europe or America.”See More